The TCJA makes major changes to the taxation of both C corporations and pass-through entities. Are pass-throughs still usually the best choice for small businesses?
After a busy winter and spring, you and your employees might be trying to take it a little easy this summer, perhaps using some vacation time or working shorter days. But don’t take it so easy that you miss these important Q3 2018 tax deadlines.
Investing in qualified small business (QSB) stock offers some attractive tax benefits, especially considering that the Tax Cuts and Jobs Act (TCJA) didn’t cut long-term capital gains rates.
If your business sponsors a 401(k) plan for its employees, it’s important to keep up with tax developments related to such plans. For example, the Tax Cuts and Jobs Act and the Bipartisan Budget Act both included 401(k) plan changes you need to know about.
Your small business may not be accepting or using bitcoin or other virtual currencies yet, but it’s still a good idea to begin familiarizing yourself with the tax consequences of this rapidly growing alternative to traditional legal tender.
Your estate plan may need a tax update in light of the Tax Cuts and Jobs Act, even if your estate is well under the new $11.18 million estate tax exemption.
Trying to decide where to retire? To avoid unpleasant tax surprises, it’s critical to consider state and local income, property, sales and estate taxes.
Have you recently been awarded restricted stock or do you expect to be awarded such stock this year? The Section 83(b) election can be beneficial if the income at the grant date is negligible or the stock is likely to appreciate significantly. Here’s why.
Pass-through business owners: When can losses be deducted? How much can you deduct in any given year? The TCJA has changed some rules, and you won’t find the changes favorable.
Unless your company has an accountable plan, reimbursements to employees for business-related expenses are subject to both income and payroll tax withholding. Consider an accountable plan, which is easy to set — and we can help.
The TCJA preserves the home sale gain exclusion, so if you’re selling your principal residence, you may be able to exclude up to $250,000 ($500,000 for joint filers) of gain. Learn more about the tax treatment of home sales.
If you go on a business trip within the United States and tack on some vacation days, you might be able to deduct some of your expenses. Here’s what you need to know.
Post-TCJA withholding tables could put you at risk of significantly underwithholding your federal income taxes and being hit with an unexpectedly high tax bill when you file your 2018 tax return next year. Here’s what to do to avoid this outcome.
Audit Techniques Guides (ATGs) were created to enhance IRS examiner proficiency, but they also can help small businesses ensure they aren’t engaging in practices that could raise red flags with the IRS.
If you recently filed your 2017 individual income tax return or filed for an extension, it may seem like some time off from thinking about taxes is in order. But taking such a break could be costly, especially this year.
For small businesses and their owners, the key to maximizing 2018 tax savings from the Tax Cuts and Jobs Act is to be familiar with the act’s significant provisions and begin tax planning now.
It’s easy to accumulate a mountain of paperwork (physical or digital) from years of filing tax returns. Here are some guidelines to help small businesses determine what they need to keep and what they can throw out.
After having filed your individual income tax return, you may find yourself buried in tax-related documentation. But you might be reluctant to purge for fear of tossing something important. Here are some tax record retention guidelines that can help.
Today wasn’t the only important tax-related deadline for individuals this year. To avoid interest and penalties, or simply to make the most of tax-saving opportunities, be sure you’re aware of these key dates for the rest of 2018.
Last December’s tax reform law reduces or eliminates tax breaks in 4 employee benefit areas of note. But on the plus side, it creates a tax credit for providing paid family and medical leave. The changes will affect businesses as well as employees.